What's happening here?
1 - There is a sharp ATR spike for the down side.
2 - Price has made a struggling rebellion (so far).
At each sharp spike of the ATR price has travelled south. That doesn't mean price is bound to do the same again.
However the latest spike down is even sharper than the previous two.
What this means is that there is a 51% chance of further movement south (leaving 49% chance for the opposite).
If price moves south, I do not know how far south as I cannot see into the future.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
1 - There is a sharp ATR spike for the down side.
2 - Price has made a struggling rebellion (so far).
At each sharp spike of the ATR price has travelled south. That doesn't mean price is bound to do the same again.
However the latest spike down is even sharper than the previous two.
What this means is that there is a 51% chance of further movement south (leaving 49% chance for the opposite).
If price moves south, I do not know how far south as I cannot see into the future.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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